February 2, 1989 |
Commodore International Ltd. yesterday named a new president, Mehdi Ali, who has been a managing director of Dillon, Read & Co., Commodore's investment bank. Ali, 43, a Commodore director since August, has served as a "special adviser" to the West Chester computer company for three years, during which the firm has staged a dramatic upturn. Ali will be Commodore's first president since 1987, when company chairman Irving Gould assumed the post. Gould will remain chief executive officer.
August 26, 1987 |
Atari's purchase of a retail store chain that's a major U.S. distributor for Atari's rival, Commodore International, could have a negative effect on West Chester-based Commodore, an analyst said today. Jay D. Samstag, vice president and technology anaylst for Duff & Phelps, a Chicago brokerage firm, added that the purchase of Federated Group by Atari could become really nasty because Jack Tramiel, Atari's chief executive, left his job as Commodore's president two years ago on less than friendly terms.
October 7, 1987 |
Commodore International Ltd., which replaced the top management of its North American operations in April, yesterday said it had created a new top post for its North American subsidiary and hired an outsider to fill it. Max Toy, now with ITT Corp. in Los Angeles, will become president and chief operating officer of Commodore Business Machines Inc., said Irving Gould, chairman and chief executive officer of Commodore International. General manager Al Duncan and senior vice president Richard McIntyre, the highest-ranking executives in Commodore Business Machines since their appointment in April, will report to Toy, Gould said.
April 23, 1987 |
Commodore International Ltd. today named its chairman and biggest shareholder, Irving Gould, to step in as chief executive in place of Thomas A. Rattigan, who has resigned and sued the company, claiming breach of contract. Rattigan, 49, who helped bring the computer manufacturer back to profitability after heavy losses in recent years, filed the suit in federal court here, according to his attorney, George Bresler. Bresler declined to discuss the suit further. The Wall Street Journal reported in today's editions that Rattigan was seeking more than $9 million in damages.
January 30, 1991 |
Commodore International Ltd., the computer company whose North American operations are in West Chester, said yesterday that sales in its most recent quarter were the second-largest it has ever had, owing to very strong sales in Europe. The company's profits in the second quarter of its fiscal year more than tripled to $36.5 million from its earnings in the same period the year before. Commodore also benefited from the effect of a weaker dollar overseas. The company's European sales continued to grow as a percent of overall revenues - climbing to 85 percent of the total from 75 percent in the second quarter the year before.
July 22, 1989 |
Commodore International Ltd. said yesterday that it expected a fourth- quarter loss of $12 million, an announcement that sent the company's stock price reeling. The stock dropped $1.875 a share to $10.875 in heavy trading on the New York Stock Exchange, after having fallen from $17.75 since June 28. That was the date that the company said it would report either a small profit or a small loss for the quarter. The loss is a setback for the company, which had staged a strong comeback since a bout with near-bankruptcy in 1985 and 1986.
November 22, 1989 |
Commodore International Ltd. shareholders yesterday approved issuance of 3 million more shares - an increase of about 9 percent - to be used in a stock- incentive plan for "certain key employees. " Other than employees, just one shareholder attended the meeting at a posh private resort here, according to that shareholder, Philadelphia lawyer Richard Ash, and a Commodore employee who said he came to the meeting at his own expense. Ash said directors rejected his suggestion to adjourn the meeting and move it to New York City, where more shareholders would be able to attend.
August 19, 1987 |
Commodore International Ltd. logged its fifth-straight profitable quarter in the three months ended June 30, turning a slim profit of $2.1 million, nearly twice the profit the company had in the same quarter last year. But revenues declined to $190.4 million from the $208.6 million recorded in last year's June quarter, as a slide in U.S. sales persisted. "Europe was ahead (of last year's June-quarter revenues), but the U.S. was behind again," said Irving Gould, chairman and chief executive officer of the West Chester-based company, which makes personal computers.
April 25, 1987 |
Turmoil continued yesterday at the West Chester headquarters of Commodore International Ltd. with the layoffs of about 50 administrative personnel. The layoffs, which came one day after the computer maker named replacements for both its chief executive officer and the head of its U.S. operations, were intended to "significantly improve operating efficiency," said chairman and chief executive officer Irving Gould. Gould, the Canadian investor who owns 19.8 percent of Commodore stock, assumed the chief executive's post Thursday, saying the U.S. operations needed to be shaped up to match the company's successful European operations.
February 26, 1986 |
Commodore International Ltd. said yesterday that it had reached a new agreement in principle with its bankers that guarantees the computer-maker a $135 million line of credit for the next year. The agreement removes a major cloud over the future of the West Chester company, which had been operating under the close supervision of its banks since June, when its working-capital and net-worth ratios fell below the limits required under the terms of its bank loans. The company said it expected the new agreement to be formalized and signed as soon as possible.